2012 - WAEC Economics Past Questions and Answers - page 4
31
One of the problems facing industrial development in West African countries is
A
inadequate large market
B
inadequate infrastructure
C
inadequate supply of labour
D
unavailability of natural resources
correct option: b
Users' Answers & Comments32
In a situation where the finished product of an industry is fragile, buky and perishable, such an industry should be located close to its
A
raw materials
B
market
C
labour supply
D
power supply
correct option: b
Users' Answers & Comments33
If Y = income, C Consumption, I = Investment, X = Export and M = Import, then national income is
A
Y = C - I + (x +m0
B
Y = C + I + (x + m)
C
Y = C +I +(X - M)
D
Y =C + I + (m - x)
correct option: c
Users' Answers & Comments34
The national income is the
A
Gross Domestic Product at market princes
B
Gross National product at factor cost
C
Net National Product at factor cost
D
Net National Product at market prices
correct option: b
Users' Answers & Comments35
When depreciation is deducted from Gross National Product, the result is
A
total national income
B
gross domestic product
C
net national product
D
net domestic product
correct option: c
Users' Answers & Comments36
Mr Okpoti has meat and wants maize, while Mr, Adama has maize and wants meat.transation is possible because of
A
bank deposit
B
joint demand
C
scale of preference
D
double coincidence of wants
correct option: d
Users' Answers & Comments37
Which of the following is not a form of money?
A
coins
B
bank notes
C
bank balance
D
bank deposit
correct option: c
Users' Answers & Comments38
A price index as a statistic, measures
A
how the value of money changes over time
B
the volume of currency in the economy
C
the exchange rate of a country's currency
D
the composition of goods and services
correct option: a
Users' Answers & Comments39
The different between birth rate and death rate is known as
A
demographic transition
B
natural growth rate
C
migration rate
D
fertility rate
correct option: b
Users' Answers & Comments40
In open market operations, what the Central Banks sells or buys are
A
shares
B
debentures
C
securities
D
equities
correct option: c
Users' Answers & Comments